US Cash Grains — Soy, corn basis bids flat to up at river terminals

CHICAGO, Oct 15 (Reuters) — Basis bids for soybeans and corn were steady to higher at river terminals in a spot check of locations in the US Midwest on Thursday. Corn bids were steady to lower at processors. Corn and soybean basis bids rose at a river terminal in Davenport, Iowa, and at another in Morris, Illinois. Corn bids dropped at a processor in Decatur, Illinois. US soybean futures fell for a fourth straight day on Thursday to a seven-week low as active harvesting of what is forecast to be a record US crop offset support from renewed Chinese demand, analysts said. GRA/ Corn futures fell with a favorable harvest weather outlook. Mostly favorable weather was expected after midweek rain in some areas of the Midwest, according to Commodity Weather Group. CBOT November soybeans closed 14-1/4 cents lower at $12.63 per bushel. December corn settled 2-3/4 cents lower at $4.78 a bushel. Basis values are quoted against CBOT futures in cents/bu: Current Previous Bid Bid Chicago, Illinois Corn processors +0 + Z +0 + Z UNC Corn elevators +0 + Z +0 + Z UNC Soybean elevators -20 + X -20 + X UNC Wheat elevators -20 + X -20 + X UNC Wheat processors +10 + Z +10 + Z UNC Decatur IL corn -5 + Z +